Calls have been made by financial planners in the US to follow Australia’s lead for advisers to adhere to a fiduciary standard of care when providing clients with investment advice.
The Financial Planning Coalition, which broadly represents 75,000 US planners, has called on Congress to support the Securities and Exchange Commission’s (SEC) efforts to establish a fiduciary duty of care and also to provide full funding for the agency to ensure investors are protected from other potential Bernie Madoff-like scams.
The Financial Planning Coalition comprises of the Certified Financial Planner Board of Standards, the Financial Planning Association, and the National Association of Personal Financial Advisors. Read more >
Money Management (Australia)
March 30, 2011